Homework Answers
Answer
Calculation of the cost of goods manufacuted:
Cost of goods manufacuted = Total cost + Reduction in WIP balance
= $200,000 + $4,400
= $204,400 (Answer)
So, as per the given options, answer is $204,400.
Add Answer to:
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If a net increase is reported in the Work in Process Inventory account during the period, which of the following statements is always true? A. Raw Material used in production is less than Raw Material purchased during the period. OB. The sum of Direct Material, Direct Labor, and Manufacturing Overhead costs added during the period is greater than the Cost of Goods Manufactured. OC. The cost assigned to units sold is greater than the total manufacturing costs added to production...
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If a net increase is reported in the Work in Process Inventory account during the period, which of the following statements is always true? O A. The cost assigned to units completed is greater than the total manufacturing costs added to production during the period. B. The Cost of Goods Sold is less than the Cost of Goods Manufactured during the period. C. The sum of Direct Material, Direct Labor, and Manufacturing Overhead costs added during the period is greater...
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Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during the period Total cost Materials Conversion Total $10,000 $ 15,000 $25,000 . 676,00 $191,00 5400,000 $701,600 Assume the equivalent units of production forms and conversion are 5.200 and 5.000, respectively, the weighted average method 400 units were completed and transferred to the next department, then what is the total cost of the ending work in process inventory in the Ming Departe о O 536200...
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Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 7O percent complete. Cost data for the period follow Product Costs Beginning balance Added during periocd $31,640 56,800 $88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent...
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During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory Beginning finished goods inventory Direct materials used in production Direct labor Manufacturing overhead incurred Ending work-in-process inventory Ending finished goods inventory $ 50,000 $ 200,000 $ 328,000 $ 525,000 $ 270,000 $ 77,000 $ 94,000 What is the cost of goods manufactured for the year? $1,096,000 O $1,229,000 $1,123,000 $1,202,000
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If a net increase is reported in the Work in Process Inventory account during the period, which of the following statements is always true? A. Raw Material used in production is less than Raw Material purchased during the period. OB. The sum of Direct Material, Direct Labor, and Manufacturing Overhead costs added during the period is greater than the Cost of Goods Manufactured. OC. The cost assigned to units sold is greater than the total manufacturing costs added to production...
If a net increase is reported in the Work in Process Inventory account during the period, which of the following statements is always true? O A. The cost assigned to units completed is greater than the total manufacturing costs added to production during the period. B. The Cost of Goods Sold is less than the Cost of Goods Manufactured during the period. C. The sum of Direct Material, Direct Labor, and Manufacturing Overhead costs added during the period is greater...
Multiple Choice Question 99 If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs for the period, the O ending work in process inventory is greater than or equal to the amount of the beginning work in process inventory O ending work in process is equal to the cost of goods manufactured. ending work in process is less than the amount of the beginning work in process inventory. ending work in process...
A manufacturer's total cost of making and finishing products in the period is called: Multiple Choice O EM Ending finished goods inventory Total manufacturing costs O Ending work in process inventory. O Cost of goods manufactured O O ) Cost of goods sold.
Walston Manufacturing Company has provided the following data concerning its raw materials inventories last month: Beginning raw materials inventory Purchases of raw materials Ending raw materials inventory 5 80,000 $420,000 $ 50,000 The cost of the raw materials used in production for the month was: Multiple Choice $500,000 $450,000 Multiple Choice $500,000 $450,000 $390,000 $470.000 Multiple Choice O work in process inventory has decreased during the period. finished goods inventory has increased during the period. total manufacturing costs must be...
Assume the following information Milline Deporte Cost of beginning work in process mentary Costs added during the period Total cost Materials Conversion Total $10,000 $ 15,000 $25,000 . 676,00 $191,00 5400,000 $701,600 Assume the equivalent units of production forms and conversion are 5.200 and 5.000, respectively, the weighted average method 400 units were completed and transferred to the next department, then what is the total cost of the ending work in process inventory in the Ming Departe о O 536200...
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